A good assessment. The correct word is probably "amateurism".I am fairly certain that "they" are not lying about their intentions. People that actively want to deceive you are few and far between. Simply failing in adequately grasping the scale of the project and their work speed is much, much, much more likely. And they usually feel bad enough about their failures themselves.
Think of it in the sense of the phrase "Never attribute to malice that which can adequately be explained by stupidity."
Though "stupidity" is also a bit too harsh in this case.